iomart: Interim Results – maiden interim dividend
iomart (AIM:IOM), the cloud computing company, is pleased to report its consolidated half yearly results for the period ended 30 September 2017.
- Revenue growth of 12% to £47.0m (H1 2017: £42.1m)
- Cloud Services growth of 13% (H1 2017: 13%)
- Adjusted EBITDA1 growth of 9% to £19.2m (H1 2017: £17.6m)
- Adjusted profit before tax2 growth of 9% to £11.6m (H1 2017: £10.6m)
- Adjusted diluted earnings per share3 from operations increased by 10% to 8.82p (H1 2017: 8.03p)
- Maiden interim dividend of 2.25p per share
- Ongoing investment in cloud skills
- Further improvements and investment in automation of server deployment
- Significant investment in software defined network
- Development of skills in major niche verticals, particularly in the eCommerce sector
- Acquisition of two eCommerce cloud businesses, one during period and one post period end
The above highlights are based on adjusted results. A full reconciliation between adjusted and statutory results is contained within this statement. The statutory equivalents of the above results are as follows:
- Profit before tax growth of 9% to £7.8m (H1 2017: £7.1m)
- Basic earnings per share from operations increased by 10% to 5.96p (H1 2017: 5.43p)
Angus MacSween, CEO commented,
“The Group has enjoyed another good period of trading in the first half of the year, with growing recurring revenues in line with our business model. The market opportunity remains significant and we continue to invest in our skills, infrastructure and capabilities to meet the evolving demands of the market. We are firmly on track to deliver another year of material growth and we remain confident in our prospects.”
1 Throughout this statement adjusted EBITDA is earnings before interest, tax, depreciation and amortisation (EBITDA) before share based payment charges and acquisition costs. Throughout this statement acquisition costs are defined as acquisition related costs and non-recurring acquisition integration costs.
2 Throughout this statement adjusted profit before tax is profit before tax, amortisation charges on acquired intangible assets, share based payment charges, mark to market adjustments in respect of interest rate swaps, interest charges in respect of contingent consideration due and acquisition costs.
3 Throughout this statement adjusted earnings per share is earnings per share before amortisation charges on acquired intangible assets, share based payment charges, mark to market adjustments in respect of interest rate swaps, interest charges in respect of contingent consideration due and acquisition costs including the taxation effect of these.
This interim announcement contains forward-looking statements, which have been made by the directors in good faith based on the information available to them up to the time of the approval of this report and such information should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward-looking information.
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